Drake Net Worth (Money & Salary)
Title: Drake Net Worth (Money & Salary)
Last Updated: November 27, 2024
What is Drake’s Net Worth?
With a net worth of $250 million, Drake is a notable Canadian actor, rapper, and producer, consistently ranked among the highest-paid entertainers globally. His career started as an actor in the acclaimed Canadian series “Degrassi: The Next Generation.” Yet, it was through music that he achieved global fame, releasing successful tracks since 2006. His first studio album, “Thank Me Later,” debuted at #1 on the hip-hop charts in 2010, marking the beginning of a remarkable journey. Drake has been relentless in touring, participating in various music events and award shows, and focusing on expanding his fan base.
To date, since attaining mainstream success, Drake’s career earnings exceed $430 million before accounting for taxes and living expenses.
During the period from June 2017 to June 2018, Drake’s earnings totaled $45 million. In 2017 alone, he amassed $95 million. Between June 2018 and June 2019, his earnings reached $75 million, followed by $50 million in the subsequent year. For a detailed year-by-year analysis of Drake’s annual income, continue scrolling down.
Universal Music Group Contract
In a Q1 earnings call in May 2022, Universal Music Group announced the renewal of Drake’s contract as part of a “long-term worldwide partnership.” This agreement encompasses a wide array of areas, including “recorded music, music publishing, film, television, and brands.” Drake has referenced this contract in various song lyrics, including one where he mentioned a deal that included “360 up front.” Following Universal’s confirmation, some have interpreted this lyric to imply that he received $360 million upfront. Other estimates suggest the deal’s value could be $400 million or even higher. Before signing, Drake’s music catalog was generating approximately $50 million annually for the company.
If the deal were indeed valued at $400 million, it can be theorized that Drake would have received around $200 million after taxes initially.
Early Life
Aubrey Drake Graham was born on October 24, 1986, in Toronto, Canada. His father, Dennis, a drummer, collaborated with well-known musicians, including Jerry Lee Lewis. Meanwhile, his mother, Sandra, also known as Sandi, worked as an English teacher and florist. Drake attended a Jewish day school and celebrated his Bar Mitzvah in a formal ceremony.
When Aubrey was five, his parents divorced; Dennis moved to Memphis, where he later faced incarceration due to drug charges. Aubrey stayed with his mother in Toronto, making summer visits to his father in Memphis whenever he wasn’t incarcerated. Later, Drake characterized Dennis as largely absent during his upbringing, a claim Dennis has fiercely disputed, suggesting it was exaggerated to promote Drake’s music career.
From sixth grade onward, Drake and his mother resided in the lower half of a two-story townhome situated in an affluent area known as Forest Hill. His mother occupied the street-level floor while Drake lived in the basement. Financially, they were not well-off, and resources were quite limited.
While studying at Forest Hill Collegiate Institute, Drake developed a passion for both acting and singing. He later transferred to Vaughan Road Academy, where he faced bullying due to his bi-racial and religious identity, leading him to drop out temporarily. Nevertheless, he ultimately graduated in 2012.
Degrassi
At the age of 15, a childhood friend’s father, who was an acting agent, assisted Drake in securing a role in the longstanding Canadian teen drama series “Degrassi: The Next Generation.” In this show, he portrayed Jimmy Brooks, a basketball star who…
disabled after a classmate shot him. He participated as a cast member from seasons 1 to 7, with guest appearances occurring in 2008.
During Drake’s time on Degrassi, his mother fell ill and was unable to work. For several years, the only income they relied on was from his Degrassi paychecks, amounting to $50,000 per year. This translates to approximately $2000 monthly after taxes. He later recounted this challenging time:
“My mother was very sick. We were very poor, like broke. The only money I had coming in was off of Canadian TV.“
Music Career
His first mixtape, “Room for Improvement,” was released in February 2005 through his website and official MySpace page, with over 6,000 copies sold directly. The following year, he produced his second mixtape, “Comeback Season,” published through his newly established label, October’s Very Own (OVO Records). This mixtape included the underground hit “Replacement Girl,” which had the distinction of being the first video from an unsigned Canadian rapper showcased on BET. One version of the track included a sampled portion from the song “Man of the Year” by Brisco, Flo Rida, and Lil Wayne.
Jas Prince, a Houston-based producer and founder of Rap-A-Lot Records, heard the single and forwarded it to Lil Wayne. Lil Wayne was impressed and invited Drake to Houston, offering him a spot on his Tha Carter III tour. Throughout the tour, Drake and Wayne worked together, co-writing and recording tracks like “Brand New,” “Forever,” and “Ransom.”
Young Money Entertainment
Interestingly, at this stage, Drake hadn’t officially signed with Wayne’s record label. In 2009, he released a third mixtape, “So Far Gone,” made available as a free download on his OVO website. This mixtape featured collaborations with Lil Wayne, Lloyd, Trey Songz, Omarion, and Bun B. Garnering 2,000 downloads within the first hour, it later received Gold certification from the RIAA, achieving a peak position of #2 on the Billboard Hot 100. It was subsequently released as an EP, debuting at #6 on the Billboard 200 and winning the 2010 Juno Award for Rap Recording of the Year.
Although still an independent artist, Drake had become highly sought after in the music business. A bidding war ensued, with multiple labels vying for a contract with him. This fierce competition has been referred to as “the biggest bidding war in music history,” although no confirmation supports that claim.
On June 29, 2009, Drake officially signed a contract with Lil Wayne’s Young Money Entertainment. This record deal was actually a collaborative venture between Young Money and its parent company, Cash Money, with Universal Music overseeing distribution.
(Photo by Frazer Harrison/Getty Images)
Mainstream Success
Drake’s debut studio album, “Thank Me Later,” was
Released on June 15, 2010, the album reached #1 in both Canada and the US. In the US, it topped the Billboard 100, R&B/Hip Hop, and US Rap charts. Ultimately, it received Platinum certification from the RIAA.
His second studio album, “Take Care,” which came out in 2011, also achieved #1 status on various charts across several countries and eventually went 6-times Platinum.
Since then, every album released has garnered at least 4-times Platinum status.
Drake stands out as a dominant and influential force in hip-hop and the broader music industry. He has collaborated with numerous prominent stars in the music realm, including Kanye West, Eminem, Jay-Z, and Travis Scott. Throughout his career, Drake has received a multitude of award nominations and, as of now, has claimed over 180 major awards, including four Grammys from more than 40 nominations.
For each concert, Drake grosses around $1 million.
Singles Sold
Drake has made history as the artist with the highest number of digital single sales. To date, he has sold over 163 million digital singles, surpassing Rihanna by 40 million. In the realm of album sales, he ranks as the 80th highest-selling musician ever, with approximately 26 million albums sold, placing him as the third-best-selling Canadian musician ever, following Shania Twain (48 million) and Celine Dion (50 million).
Drake’s Earnings By Year
- 2010: $10 million
- 2011: $11 million
- 2012: $21 million
- 2013: $11 million
- 2014: $33 million
- 2015: $40 million
- 2016: $40 million
- 2017: $95 million
- 2018: $47 million
- 2019: $75 million
- 2020: $50 million
- 2021: $40 million
- 2022: $30 million
Total: $503 million
(Photo by Christopher Polk/Getty Images)
YOLO Estate
While Drake was born in Canada, he began considering Hidden Hills, California, as his home in 2012 after purchasing a lavish mansion from the former owner of Los Angeles’ Saddle Ranch Bar for $7.7 million in cash. Affectionately called the YOLO Estate, this property comprises multiple residences, including a main house that spans 12,000 square feet and a party house that covers 2,000 square feet. The estate also boasts equestrian stables, a movie theater capable of seating 25 people, a full-sized basketball court, a sand volleyball court, and one of Southern California’s largest private pools. His lagoon-style pool, which encircles the house, features multiple waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of the Playboy mansion.
In an interview with Rolling Stone, Drake revealed that he had been eyeing this mansion for years after coming across a Google search for “craziest residential swimming pools” and seeing this property featured. To keep himself motivated, he set a photo of the pool as his computer’s wallpaper for years. Originally, the former owner listed the house for $27 million in 2009. However, it went on the market in 2012 due to the owner’s financial difficulties, leading Drake to seize the opportunity to buy it for $7.7 million.
In 2015, he further enhanced his property by acquiring the adjacent 1.6-acre estate for $2.8 million. In 2018, he expanded the property…
Once again, he spent $4.5 million to purchase another neighboring house. His private estate now spans 6.7 acres of adjacent property situated at the end of a cul-de-sac, amounting to $15 million solely in real estate acquisitions.
In March 2022, Drake put the YOLO Estate up for sale at $22.7 million. Additionally, a buyer could choose to purchase the main mansion for $14.8 million.
In April 2022, NFL player Matthew Stafford bought two of the three estates that previously formed the YOLO Estate for $11 million, which was $3.6 million above the asking price. Matthew’s acquisitions did not include the main “YOLO” mansion. Later, in July 2022, a buyer purchased the third parcel for $12 million.
Check out the video showcasing the entire 3-estate property:
Toronto Mansion
In 2016, Drake invested $6.7 million in a plot of land located in suburban Toronto’s The Bridle Path. Subsequently, he constructed a 50,000-square-foot mansion on the two-acre site. This luxurious residence includes a 10-car garage, a regulation-size NBA basketball court, a gym, an awards room, and much more, with the master bedroom occupying an impressive 3,200 square feet.
Additionally, he possesses a condo in downtown Toronto.
$90 Million Beverly Hills Mansion
On March 8, 2022, news broke that Drake had finalized a deal to acquire British singer Robbie Williams’ expansive 20-acre mansion in Beverly Hills. The cost of this off-market transaction for Drake was $75 million. Prior to Robbie Williams, the property was owned by Armand Marciano, co-founder of the Guess? clothing brand. Drake acquired the mansion through a corporate entity named 11Kip, LLC, financing it with a $52.5 million mortgage from Bank of America, which meant he made a cash down payment of $22.5 million, precisely 30%.
In May 2023, just over a year after purchasing the Beverly Hills property for $75 million, Drake listed it for $88 million. He re-listed it in May 2024 at the same price. Take a look at the video tour of Drake’s Beverly Hills mansion:
300+ Acre Texas Estate
In October 2023, Drake completed the purchase of a 313-acre property, previously known as The Inn at Dos Brisas, for $15 million; it is now referred to as Dos Brisas Ranch. Originally, in the early 2000s, this estate served as a private compound for a wealthy family, which transformed the property into a resort in 2004. At its height, The Inn at Dos Brisas was quite successful and received numerous prestigious awards.
Like many hospitality ventures, The Inn faced significant challenges due to the COVID pandemic and permanently closed its doors in 2022. The estate went up for sale in April 2022 for $17.5 million, and the price was reduced to $15 million in May 2023. Drake acquired the property in October 2023 for an undisclosed amount exceeding $10 million. Here’s a video tour:
Air Drake Private Jet
In May 2019, Drake unveiled a video on Instagram showcasing his newly-acquired Boeing 767 private jet, which he has named (and customized) “Air Drake.” In the video, he expresses pride in owning the jet outright, emphasizing that he has no rental agreements, no timeshares, and no co-owners involved.
A private jet of comparable model and quality would have a value ranging from $75 million to $100 million.
(Photo by Tom Szczerbowski/NBAE/Getty Images)
Milestones of Drake’s Net Worth
Drake was first included in Celebrity Net Worth in November 2009, with an initial estimated net worth of $1 million. This followed shortly after he signed with Lil Wayne’s Young Money. By 2012, his net worth had exceeded $25 million. In 2014, it surpassed $45 million. By late 2016, he reached the $80 million mark for the first time. With phenomenal earnings nearing $100 million in 2017, he easily crossed the $100 million threshold by early 2018. In May 2019, he achieved a net worth exceeding $150 million for the first time.
Entrepreneurial Endeavors
Throughout the years, Drake has promoted numerous major brands, especially Sprite, Burger King, Whataburger, Nike, and Apple. Upon the launch of Apple Music, he entered into a $19 million exclusive contract, which made Apple the primary platform for all future solo releases from Drake.
In 2012, he established his own record label, OVO Sound, distributed by Warner Bros. Records. Besides Drake, OVO Sound currently supports music from artists such as PartyNextDoor, Majid Jordan, and Kash Doll, as well as producers like Boi-1da, Future the Prince, Mike Zombie, among others.
Serving as the “global ambassador” for the Toronto Raptors, he also holds an annual Drake Night event with the team.
In 2016, he introduced his own whiskey brand, Virginia Black, which sold 4,000 bottles in its first week. Later that year, an additional 30,000 units were shipped.
Concert Tours
Drake’s debut headline tour was the “Away From Home Tour” in 2010. He has completed five more headlining tours by 2019. Additionally, he has co-headlined four tours, including a 2018 tour alongside the rap group Migos.
The “Summer Sixteen Tour” in 2016 set the record for the highest-grossing hip-hop tour at that point, generating $84.3 million from 54 shows, averaging $1.56 million per concert. In 2018, his co-headlined tour with Migos broke this record, with $80 million earned across 43 dates, averaging $1.86 million per concert.
Each summer, Drake hosts a festival in Toronto named “OVO Fest” that sells out rapidly.
He has a continuous residency at the XS Nightclub in Las Vegas, where he can earn up to $500,000 for a single performance, while formal concerts now bring in more than $2 million.
Life Off the Stage
Over the years, Drake has been involved in several high-profile relationships, including an on-and-off romance with Rihanna from 2009 to 2016. He has since referred to her as “the woman I’ve been in love with since I was 22 years old.“
In October 2017, a French model, actress, and artist, Sophie Brussaux, gave birth to his son, Adonis, although Drake did not publicly acknowledge his fatherhood until 2018.
Drake Net Worth (Money & Salary)
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Data is sourced from 2023 and 2024, with forecast data extending to 2025 and 2026. The forecast data has also been expanded to include 2027 and 2028.
* This information was taken from various sources around the world, including these countries:
Australia, Canada, USA, UK, UAE, India, Pakistan, Philippines, Indonesia, Nigeria, Tanzania, Kenya, US, United Kingdom, United States of America, Malaysia, U.S., South Africa, New Zealand, Turkey, United Arab Emirates.
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America, U.S.), US Minor Outlying Islands.
Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
Post Title: Drake Net Worth (Money & Salary)
Last Updated: November 27, 2024
